Five Steps Late Bloomers Can Take to Ensure a Smooth Retirement

“If you’ve turned 30, you ideally should have already started planning for retirement. But if you haven’t begun yet, you’re not alone. A study from the National Institute on Retirement Security found that more than 45% of working-age households don’t own any retirement account assets. As a result, many will even start aggressively investing for retirement when they finally reach their 40s or 50s.

More and more people are waiting until later in life to start planning for this vital stage of their life, but that doesn’t mean you should. Delaying your retirement isn’t like postponing a term paper. Instead, it gets exponentially more difficult the later you put it off. The beauty of starting early is that you have decades to see the power of compound interest and investment gains work their magic. When you start later, you have to make up all those gains with your own capital.” -Forbes